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Blackstone Asia chair leaves for RE company

Antony Leung will join Hong Kong-based real estate group, Nan Fung, as CEO in Febraury 2014.

Antony Leung, the Blackstone Group's Greater China chairman and senior managing director, has left the firm after seven years of service, according to a company statement.

Leung will join Hong Kong-based real estate conglomerate Nan Fung Group, where his appointment as chief executive officer will be effective in February 2014. Nan Fung has some financial and investment activities, but its core-business remains in real estate development and investment.

“Nan Fung is one of the most solid and respected business conglomerates in Asia. I am looking forward to working with the team there to drive it to new heights,” Leung said in the statement. “It has also been a privilege to be associated with Blackstone. The firm is doing exceptionally well in Asia and China, and I am happy to continue my association with it as a senior advisor and an international advisory board member.”

He will remain a senior advisor to Blackstone and a member of its international advisory board.

Before joining Blackstone, Leung was financial secretary for Hong Kong and chairman for Asia at JPMorgan Chase.

Stephen Schwarzman, chairman and founder of Blackstone, said in the statement that Leung had played a major role in developing the firm's relationships in China and Hong Kong. 

Leung is joining a firm with existing ties with the private equity real estate market in China. It currently is in partnership with InfraRed Capital Partners, the real estate and infrastructure investment management business spun out from HSBC in 2011. 

The partners are currently raising capital for their second fund, InfraRed NF China Real Estate Fund II, for which they hope to garner $500 million from investors. By June, the firm had raised the first $200 million.